Monopolistic competition, like perfect competition, is a market structure in which firms can easily enter and leave the industry
a. True
b. False
Indicate whether the statement is true or false
True
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You took a summer job as a salesperson in a shoe store with the knowledge that you will either make $2,000 or $3,500 with probabilities 0.4 and 0.6 respectively. What is your expected income for the summer job?
A) $2,000 B) $3,000 C) $5,000 D) $2,900
Refer to Figure 2-4. A movement from ________ is the result of advancements in plastic production technology
A) V to X B) Z to W C) W to X D) Y to Z
There has been some concern in the United States that people are not saving enough. This is a concern because
A) decreases in saving lead to decreases in labor productivity. B) decreases in saving lead to decreases in investment. C) decreases in saving lead to increases in the capital stock. D) decreases in saving lead to increases in consumption in the future.
Long-lasting resources used to expand the production of goods and services in the future are called
a. consumables. b. capital goods. c. consumer durables. d. inventories.